Manara signs up for Gulf Property Show

Manama, February 18, 2013

Manara Developments, a leading real estate developer specialising in affordable housing in Bahrain, will be the strategic supporter of the inaugural Gulf Property Show being organised by Hilal Conferences & Exhibitions (HCE) in the kingdom later this year.

This follows the signing of a strategic partnership between HCE and Manara Developments.

The Gulf Property Show will be held at the Bahrain International Exhibition and Convention Centre (BIECC) from May 7 to 9 under the patronage of the Prime Minister, HRH Prince Khalifa bin Salman Al Khalifa and supported by the Bahrain Property Developers’ Association (BaPDA),

The show is being held as the Bahrain government accelerates the provision of housing for limited- and middle-income families. In the next five years approximately 47,000 housing units will be built - many in the ‘affordable’ bracket - at a total estimated cost of $5.6 billion.

As an associate company of Al Salam Bank Bahrain, Manara Developments provides a range of housing solutions, including for families who have lodged housing applications with the Ministry of Housing.

It has already completed and completely sold the first phases of two ongoing affordable housing projects - Tubli Gardens and Wahat Al Muharraq – and has embarked on the second phases of both.

The Gulf Property Show will showcase key residential and commercial real estate projects in Bahrain and the region, as well as the credentials of property developers and their service providers.

On the strategic accord with HCE, Manara managing director Dr Hasan Al Bastaki said: "Three years ago Manara shifted its focus from the luxury property segment to developments more closely aligned to real, non-speculative market demand. Consequently, we were one of the first major real estate companies in Bahrain to launch the affordable housing concept."

"The strategic support for the Gulf Property Show reflects our real estate leadership position, as well as commitment to supporting sector-wide collaboration and growth. One objective is to leverage this leadership position to encourage other property developers in Bahrain to pursue affordable housing," stated Al Bastaki.

It is also an opportunity to showcase the community-focused credentials of Manara’s residential projects.

HCE managing director Jubran Abdulrahman said: “In the last two years Manara Developments has become synonymous with the provision of affordable housing, which reflects the social needs of our time. Securing Manara’s support for the inaugural Gulf Property Show reflects HCE’s commitment to delivering shows which resonate with the market, and their presence will lend traction to our efforts.”

The debut prioperty show will be held alongside and build on the overwhelming success of HCE’s flagship GulfBid and GulfInteriors exhibitions, the leading trade shows for the Northern Gulf’s building, construction and interiors sectors.-TradeArabia News Service